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Asian mono ethylene glycol markets were under correction in the week ended 12 June from its earlier bullish week as players were mulling over the waning polyester demand and reduced operating rates at Chinese polyester and PET makers on feedstock PTA spot prices. Polyester markets were depressed on the whole which softened MEG values. Midweek news that Fund Energy (Ningbo) will restart unit as per schedule, MEG value was picked up significantly. However, there was limited interest to seek high-priced cargoes.

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